Recieving credit while under18

When I first started college I was 17. I was given several credit cards (national banks and department store) which I quickly maxed out. Am I responsible for the debt or are the companies who extended me (a minor at the time) at fault?

If you were still 17 when you failed to repay the debt, you would not be responsible. Since you are now 18, you are responsible. The same applies to anyone who issues you a checking acct, credit cards, loans ect..If you are under the age of 17. You were considered a minor and are not able to enter any contract.

Why not declare bankruptcy now...? since you have no income so it will get approved very easily. Then it will be off the record when you are 26 or so... just the right time to buy houses with a fresh new credit.

Better yet, get more cards, max out all the credits, like to $10,000 or so then do it.

Then learn to cheat taxes while you are at it... since you are that kind of people anyway, always looking for loophole to get out of finacial obligation.

Look at what is happening to the new generation America? Any hope for the future? sigh...